Construction Entrepreneurial Business Success
One of the important subjects for construction business is identifying and understanding the success factors. The necessity for the identification and understanding of success factor has led to an increase in research efforts. The business environment of the construction industries which is considered as a dynamic one is a critical issue for a construction organization in being successful and its survival. Attaining success as an entrepreneur in a construction industry is based on various factors having the direct impact on the organization’s performance. Unlike mathematics or physics, there are no hard and fast definition in determining the success of business and its survival. Success of any business can be defined as its ability to survive in the competitive market.
Business organizations need to respond to the changes and implement best business practices that are conducive for effectively making use of the available resources in order to survive in the dynamic business environment. The construction industry is comprised of many uncertainties. So, construction entrepreneurs must be willing to bear the uncertainty and be more knowledgeable about overcoming the difficulty. There are four basic entrepreneur’s theory that can contribute in the survival and success of construction entrepreneurs i.e., entrepreneurial orientation, entrepreneurial organization, entrepreneurial competencies and entrepreneurial environment. In order to be successful and survive, a construction entrepreneur should focus on entrepreneurial orientation which is enabled by suitable entrepreneurial organization, driven by entrepreneurial competencies and founded by the ability to grasp the entrepreneurial environment.